(News Bulletin 247) – Danone maintains its ‘outperformance’ rating on the Danone share, with an unchanged price target of 64 euros.
After supporting Danone’s top management and investor relations team for three days on a road show in North America, Oddo’s teams say they are ‘convinced of the potential for operational and strategic refocusing of the group and rerating of the share (EP 2024: 14x)’.
‘The management explained very concretely to what extent trust is being rebuilt at all levels: within the Board, between the Board and the Comex, between the Comex and the local management’, reports Oddo.
From now on, the 1st objective is to re-establish a virtuous circle of regular profitable growth where the improvement of the operating margin is no longer an objective in itself but stems from organic growth via innovation, the gain of market shares, the improvement in the gross margin and the reinvestment of part of the operating leverage, underlines the analyst.
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